The Hongkong and Shanghai Banking Corporation Limited

Name

Home equity loan

Description

Home Equity Loan from HSBC is an opportunity for you to release some of the value tied up with your home. Whether you want to renovate your home or expand your own business, you can potentially receive cash against the equity in your home. Let you home work for you with the world's local bank's Home Equity Loan.

Loan Amount

Tenure

More flexibility with a loan tenure of maximum 10 years

Interest Rate

Competitive interest rates

Eligibility

* Age: At least 23 years
* Professional Experience:
- Salaried: Employed for at least 2 years by a well-reputed organization
- Self employed: Professional experience or business establishment for at least 2 years (with adequate pr

Supporting Documents

* The concerned apartment must be occupied by the owner
* Age of the property must not be more than 20 years
* Registered mortgage in favour of HSBC and original title deed
* Irrevocable General Power of Attorney (IGPA)
* Property insurance covering fire, earthquake, flood, and cyclone
* All documents stated in the application form and as required by the Bank must be submitted

Details

* No personal guarantee or cash security
* Maximum loan amount of 80%* of the property valuation
* Loan facility against your residential house or apartment
* Interest is calculated on a monthly reducing balance
* A wide range of loan purposes - purchase of land, apartments, office space, renovation, extension or construction of houses, shops etc, educational expenses for children and many more
* Clubbing of income is allowed for immediate family members i.e. Husband-Wife, Father-Child, Mother-Child etc.
* Partial or early settlement facilities

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